Bank of Hawaii Co. (NYSE:BOH) Position Lessened by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its stake in Bank of Hawaii Co. (NYSE:BOH) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,447 shares of the bank’s stock after selling 186 shares during the period. Maryland State Retirement & Pension System’s holdings in Bank of Hawaii were worth $1,047,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BOH. Cullen Frost Bankers Inc. bought a new position in Bank of Hawaii during the 3rd quarter valued at $37,000. Allspring Global Investments Holdings LLC lifted its holdings in Bank of Hawaii by 2,197.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 781 shares of the bank’s stock valued at $39,000 after acquiring an additional 747 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Bank of Hawaii during the 4th quarter valued at about $41,000. Strs Ohio acquired a new position in shares of Bank of Hawaii in the 4th quarter worth approximately $50,000. Finally, Covestor Ltd raised its holdings in shares of Bank of Hawaii by 17.1% in the 3rd quarter. Covestor Ltd now owns 1,429 shares of the bank’s stock worth $71,000 after purchasing an additional 209 shares in the last quarter. 82.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BOH has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their price target on shares of Bank of Hawaii from $55.00 to $58.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 23rd. StockNews.com raised Bank of Hawaii to a “sell” rating in a research report on Thursday, January 25th. Piper Sandler dropped their price target on Bank of Hawaii from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 23rd. Barclays cut their price objective on Bank of Hawaii from $51.00 to $50.00 and set an “underweight” rating on the stock in a report on Tuesday, April 23rd. Finally, Jefferies Financial Group dropped their target price on shares of Bank of Hawaii from $67.00 to $62.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Four equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $52.20.

Bank of Hawaii Trading Up 0.4 %

Shares of NYSE BOH opened at $59.46 on Friday. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 2.10 and a beta of 1.08. The business has a 50 day simple moving average of $59.79 and a 200 day simple moving average of $61.44. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.70 and a current ratio of 0.70. Bank of Hawaii Co. has a 52 week low of $30.83 and a 52 week high of $75.19.

Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings data on Friday, April 26th. The bank reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). Bank of Hawaii had a return on equity of 13.25% and a net margin of 15.91%. The business had revenue of $252.64 million during the quarter, compared to the consensus estimate of $160.79 million. During the same quarter in the prior year, the company posted $1.14 earnings per share. On average, research analysts predict that Bank of Hawaii Co. will post 3.53 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.80 annualized dividend and a dividend yield of 4.71%. Bank of Hawaii’s dividend payout ratio is presently 72.16%.

About Bank of Hawaii

Bank of Hawaii Corporation operates as the bank holding company for Bank of Hawaii that provides various financial products and services in Hawaii, Guam, and other Pacific Islands. It operates in three segments: Consumer Banking, Commercial Banking, and Treasury and Other. The Consumer Banking segment offers checking, savings, and time deposit accounts; residential mortgage loans, home equity lines of credit, automobile loans and leases, overdraft lines of credit, installment loans, small business loans and leases, and credit cards; private and international client banking, investment, credit, and trust services to individuals and families, as well as high-net-worth individuals; investment management; institutional investment advisory services to corporations, government entities, and foundations; and brokerage offerings, including equities, mutual funds, life insurance, and annuity products.